FHFA IG Raises Questions About Continued Success of HARP August 7, 2013 Charles Wisniowski It is difficult to project how many HARP-eligible loans will ultimately be refinanced, the FHFA IG writes in a new report. Read More
Two Harbors Loses Money in 2Q, Large MSR Deal in the Works August 7, 2013 Brandon Ivey Two Harbors revealed that it is advanced talks to purchase a potentially significant portfolio of mortgage servicing rights later this year. Read More
Mortgage Insurers Turn in Best Quarter in Five Years, Take Share from FHA/VA August 7, 2013 John Bancroft For the first time in six years, the four surviving private MIs reported a combined profit on their domestic MI business during 2Q13. Read More
BofA Hit with Lawsuits from DOJ, SEC on Non-Agency Jumbo MBS August 7, 2013 Brandon Ivey The SEC said the deal has taken nearly $70 million in losses the greatest loss rate of any comparable securitization from Bank of America. An additional $50 million in losses are expected. Read More
Freddie Earns $5 Billion, G-Fee Charge at 51 Basis Points August 7, 2013 Paul Muolo In its earnings release, Freddie said it will not capture its deferred tax asset (DTA) valuation allowance which now stands at $28.6 billion. Read More
Short Takes: So, Why Does the White House Want to Kill the GSEs? / Politicians Continue to Bash Fannie and Freddie / BofA Cuts Servicing Jobs in Pittsburgh / Wholesale Lending Makes a Comeback / Impac Comes on Strong August 7, 2013 Paul Muolo Who says that wholesale lending through loan brokers is dead? Carrington Mortgage and other firms are expanding in the sector.Read More
Freddie Mac Has Worst MBS Issuance Month of the Year August 6, 2013 Paul Muolo Though the end of July, Freddie has issued roughly $302 billion of single-family MBS compared to $500 billion for Fannie. Read More
OIG: FHFA Must Tighten Grip on Deficient FHLBank Unsecured Lending Practices August 6, 2013 Charles Wisniowski Between 2008 and early 2011, unsecured credit extensions by FHLBs to European institutions swelled from $66 billion to $123 billion.Read More
Mortgage Broker Group Calls for QM to be Re-Proposed August 6, 2013 Thomas Ressler The NAIHP is concerned that "responsible consumers" may have been "intentionally" knocked out of the QM box.Read More
Originations Booming at Nationstar, MSRs Will Top $435 Billion August 6, 2013 Brandon Ivey Portfolio recapture, wholesale, and builder channels accounted for almost 79 percent of its fundings in 2Q. Read More